KCB of kenya has announced that it has posted a 15 % net profit in this years third quarter ended
September.
The bank has reported their net to Sh12.48 billion in the period under review up from Sh10.8 posted in 2013, cementing its position as the country’s most profitable bank.
The increase in profit has been
attributed to a growth in non-funded income.
KCB’s foreign exchange trading also grew by 20 per cent from Sh2.7 billion last year to Sh3.2 billion in the period.
MOBILE BANKING
Fees and commissions on the other
hand grew by a similar percentage
to settle at Sh9 billion from Sh7.6
billion in the previous period.
“It is an important fact for us
because our growth agenda for this
year has been largely because of
the increased non-funded income
growth that also draws from our
mobile banking unit,” chief
executive officer Joshua Oigara
said at an investor briefing.
